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Andrei [34K]
2 years ago
8

Swifty Corporation records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $

2,700, Service Revenue $9,400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) $800 of supplies on hand and (b)$3,200 of service revenue should be reported as unearned
Business
1 answer:
Lemur [1.5K]2 years ago
6 0

Answer:

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

Dr Unearned Service Revenue 3200

Cr Service Revenue 3200

Explanation:

Preparation of the adjusting entries at April 30

Based on the information given the adjusting entries at April 30 will be :

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

($2,700-$800)

(Being to record supplies on hand)

Dr Unearned Service Revenue 3200

Cr Service Revenue3200

(Being to record Unearned Service Revenue)

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Explanation:

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Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Rela
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We calculate the advances form the customer to be reported as the current liability as on Dec. 31, 2009 in the balance sheet as follows :

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6 0
2 years ago
Clint had $748.87 in his checking account, and a check that he wrote to his landlord for $725.00 was just deposited. This will r
ludmilkaskok [199]
The answer is b my guy dont worry im wrong
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Read 2 more answers
Give 3 Examples of Product/Service
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Answer:

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Explanation:your welcome

7 0
3 years ago
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